You may find that debt relief is right for you, but what if Freedom Debt Relief is charging you 25% of your enrolled debt compared to another provide that charges 15-20%? This could potentially results in thousands in additional fees.Īs such, we built the following free debt settlement comparison calculator, so you can compare your Freedom monthly cost estimate to other debt relief providers? It also will give a clear estimate of your fees breakdown. How Much Does Freedom Debt Relief Cost Compared To Other Options?ĭid you get a quote from Freedom Debt Relief, but don't know how much you are paying in fees? Did the individual just say that your fee is included in the monthly payment plan? The process is successful when your creditor agrees to a negotiated repayment and the funds from your Escrow account are diverted to both your creditors and to Freedom Debt Relief (for their services).įreedom Debt Relief does have decent ratings on Trustpilot, however it appears their Google Review function has been turned off. Second, if you have not missed any payments up until this point, this is the first thing that will begin negatively affecting your credit.Īfter you have made a decent amount of payments into the Escrow account, and you have missed an adequate amount of payments, Freedom Debt Relief will begin reaching out to your creditor and offering to negotiate. First, becoming delinquent on your payments is typically the only way that your creditor will even entertain a negotiation. This is a very important step in the process for two reasons. Instead, they open an Escrow account that you start making payments into. Freedom Debt Relief tells you to stop making payments into your creditor. The way this works is relatively straightforward. Freedom Debt Relief claims to be able to help you settle your debt on your behalf. What Is Freedom Debt Relief?įreedom Debt Relief is one of dozens (if not hundreds) of debt settlement companies around the nation. You did all the right things once you realized you couldn’t pay back your debt, right? You hired a reputable company to work on your behalf, you offered a payment, and you followed through with that offer! So why is your credit score still significantly lower? This article will tell you exactly why, and it will also help you find potential alternatives that could help protect your credit score from a sudden fall. Settling your debt can ruin your credit score, dropping it hundreds of points almost instantly. One of the most significant consequences of debt settlement is credit score. Many people have started turning to debt settlement when they get fearful they won’t be able to fully pay back their debt without considering the potential consequences the settlement will have. If you are wondering whether Freedom Debt Relief is a scam or whether Freedom Debt Relief lies, I would recommend reading our articles covering both of those topics. We will cover all of that and more in this article. The reason is that Freedom Debt Relief negotiates debt when the credit is behind, thus affecting your credit score. Yes, joining the Freedom Debt Relief program can hurt your credit score.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |